HarperCollins based in the United Kingdom has released some staggering numbers that have propelled it into a three year high. The company made $389 million dollars in the year ending in June 2011. Sales of eBooks during this time have risen by almost 700% and account for 10% of the overall sales. The company also is starting to focus on the Australian market and are starting to see gains via e-books and other media applications which have started “to bear fruit”.
In a statement, the publisher said: “Operating profit has dropped in comparison to the year before but that is purely because of exceptional rights income in the prior year. On a like for like basis, stripping out the exceptional rights income, operating profit has increased by 120%.”